Robinhood Lists Cardano (ADA), Users Can Trade Starting Today

The U.S. brokerage platform Robinhood has listed Cardano (ADA) for its customers. Users will be able to trade the cryptocurrency starting today.

This is good news for Cardano and its holders as it will help increase exposure and liquidity for the cryptocurrency. Robinhood is a popular brokerage platform in the United States and its listing of ADA will help bring more attention to the altcoin. Users will be able to trade Cardano starting today and gain exposure to its spot price. This is positive news for the cryptocurrency and its holders.

Robinhood's listing of Cardano is a huge win for the cryptocurrency community. Cardano has been a favorite among retail investors for years, and its listing on a major exchange like Robinhood is a major validation of the coin. With its strong market capitalization, Cardano is now one of the top 10 cryptocurrencies in the world, and its listing on Robinhood is sure to bring even more attention and investment to the coin.

I believe that Cardano (ADA) will continue to be a top cryptocurrency in 2021. It has shown great resilience over the past year, despite the bearish market conditions. I think ADA will continue to trade around the $3 mark, and could even exceed this price if the market conditions improve.

Cardano (ADA) is currently trading at $0.44, with a 2% loss in the last 24 hours. This follows the general sentiment in the market, but the recent announcement from Robinhood is an important milestone for ADA. This could boost its adoption levels in the United States, and help it compete against other major cryptocurrencies.

ADA’s price trends to the downside on the 4-hour chart. Source: ADAUSDT Tradingview
As prices trend lower on the 4-hour chart, ADA looks likely to continue to head downwards in the near-term. This could mean more losses for investors who have been betting on the coin to continue to rise.

While the cryptocurrency market is highly influenced by current macro factors, the announcement of a new partnership between Cardano and New Balance could be a catalyst for a Cardano rally in the future.

I believe that the current price of Bitcoin and Ethereum is a strong indicator of the future performance of other cryptocurrencies. Bitcoin, the largest cryptocurrency by market cap, is currently trading around an important two-week support level at $19,600. I believe that if Bitcoin can maintain this level, other cryptocurrencies will follow suit and also experience strong growth in the future.

It is important for bulls to preserve the current levels of Bitcoin and Cardano to prevent further price losses. Data from Material Indicators shows that there is a high level of liquidity below BTC's current price levels, with over $20 million in bid orders around the $19,500 area. Therefore, it is crucial for investors to watch these levels closely in order to prevent any further losses.

Cardano Price Analysis: Key Levels to Watch

This paragraph paints a picture of a market with low liquidity and high selling pressure. This is not a favorable environment for Cardano (ADA) price action. The presence of over $2 million in selling orders at immediate levels suggests that further downside is likely in the near-term.

ADA’s price (blue line) is below a high amount of selling orders (yellow zone on the chart). Source: Material Indicators
As ADA's price continues to hover below the yellow zone of selling orders on the chart, it remains to be seen how long this trend will continue. ADA holders may be feeling nervous as the price has yet to make a significant rebound, but patience may be key in waiting for the market to correct itself.

Cardano bulls need to keep the price around $0.43 on lower timeframes, or else risk going lower into previous support levels. $0.40 and $0.43 are key to avoiding a future bearish scenario.

I am bullish on Cardano and believe that the long-awaited HFC event "Vasil" will finally provide the boost that the coin needs to break out past $0.50. This update has been a long time coming and has caused some anxiety among ADA holders, but I believe it will be worth the wait. If all goes well, Cardano could see some serious gains in the near future.